All about PRUDENTIAL & insurance updates!, any insurance related issue are welcome
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 Jul 26 2021, 08:57 AM
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#1
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Senior Member
1,479 posts Joined: Nov 2008  
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I think my ILP medical card from 2013 might be out of date (only cover 600K limit), should i terminate it and buy million limit card (without life time limit somemore)? Or should I just upgrade my existing card?
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Jul 26 2021, 12:26 PM
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#2
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Senior Member
1,479 posts Joined: Nov 2008
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QUOTE(roystevenung @ Jul 26 2021, 11:15 AM) There are 3 compelling reasons why opting for upgrade is a better choice as compared to buying a new policy, if your health permits. Prudential medical card need 2 year as well before can start using it?1. The upgraded card is not subjected to the 120 days Specific Illness Waiting Period (SIWP) and the 2 years Incontestability Clause. Meaning, if you were to start a new policy (instead of upgrading), and should a claim (eg kidney stones) happens in during the SIWP, the claim will be rejected. 2. Your premium allocation rate does not start all over (only the upgraded part will), meaning your cash value is higher compared to starting a new plan. 3. The agent commission earned is only on the upgraded portion, not an entirely new policy Lets say your current policy premium payment RM200, and if upgrade, it will cost RM250, agent only earns Rm50 as compared to giving you a new policy.  Also is there possibility the insurance is cheaper now vs when I bought in 2013 (eg CI/Life/PA)? I just worried for the same amt of money im paying, i can actually get alot more coverage with today's insurance products This post has been edited by B u B u: Jul 26 2021, 12:28 PM |
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